LOS ANGELES & KUWAIT CITY--(BUSINESS WIRE)--OriginOil Inc. (OTC/QB: OOIL), developer of Electro Water Separation™ (EWS), the high-speed, chemical-free process to clean up large quantities of water, announced today Burgan One Commercial Establishment (BG-1) has signed a non-exclusive licensing agreement to design, manufacture and distribute water treatment products that incorporate OriginOil technology for the oil & gas and other waste treatment markets in the Middle East.
“Our new partner Burgan One is already planning three different projects in Kuwait that will use OriginOil technology,” said Bill Charneski, General Manager of OriginOil’s Oil & Gas Division. “Water conditions in the Middle East are unique, and water remediation is starting to take off there, so we are positioning ourselves perfectly to be a first mover in the region.”
“We are very excited to be the first to introduce OriginOil’s innovative technology to the Middle East,” said Musab Al-Yaseen, CEO of Burgan One. “Water treatment in the region is gaining great attention due to increased water production volume and focus on environmental regulations, and I see EWS playing a major role in developing an environmentally friendly and economical approach.”
“We at BG-1 foresee a number of different applications for the EWS technology in the oil and gas fields of the Middle East,” said Farouk Al-Zanki, until recently CEO of the Kuwait Petroleum Corporation (KPC). “Our initial projects will be targeted here in Kuwait, but once proven here, we believe the rest of the Gulf States will open up.”
“For our first Middle East partner, we have chosen a company that is a solid, fast-acting regional player,” said Riggs Eckelberry, OriginOil CEO. “We look forward to working rapidly to adapt our technology to the Middle East oil fields.”
“I am very pleased that OriginOil is moving into the Middle East market. It is my back yard and I hope to help OriginOil expedite its efforts there,” said Dr. R. Gerald Bailey, OriginOil’s Industry Advisor and former President of Exxon - Arabian Gulf. “They have chosen a good partner in Burgan One.”
Burgan One is a leading regional service provider firm in the oil and gas sector. It focuses on upstream activities covering the Kuwaiti market, and its relationships in Iran, Syria, Iraq and Egypt give it regional reach. BG-1 is an agent for conglomerates Sumitomo and Samsung C&T in Kuwait.
Burgan One has helped conduct a number of flagship projects for the Kuwait Oil Company (KOC), such as treating high saline effluent produced water, soil remediation and cleaning of oil contaminated lakes, and desalination of high saline water.
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About OriginOil, Inc.
OriginOil has developed a breakthrough water cleanup technology for the oil & gas, algae and other water-intensive industries. Unlike other technologies, the company's patent-pending Electro Water Separation™ process rapidly and efficiently removes organic material from large quantities of water without the need for chemicals. For the oil & gas industry, OriginOil is helping clean up produced water and recycle fracking water, to reduce harm to the environment and lower costs. For the emerging algae industry, OriginOil is making large-scale harvest possible. And in aquaculture, OriginOil is helping improve yields and making seafood healthier by dramatically reducing the levels of toxic ammonia and bacteria in water. For a world short on clean water, OriginOil is the lower-cost and cleaner answer. To learn more about OriginOil®, please visit our website at www.originoil.com.
OriginOil Safe Harbor Statement:
Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this update, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology and our need to increase the size of our organization. Further information on the Company's risk factors is contained in the Company's quarterly and annual reports as filed with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
Abstract: OriginOil secures first Middle East licensing partner for oil & gas water cleanup; Kuwait-based Burgan One to employ Electro Water Separation™ technology to supply region’s urgent water cleanup needs
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